The many benefits of an Interim CFO
The many benefits of an Interim CFO
FD Capital Recruitment are a niche FD and CFO recruitment and consultancy boutique based in Great Portland Street London and we are get nearly weekly requests for Interim CFO or Interim FD’s. There are many situations where bringing in an experienced senior finance professional makes sense, albeit for a short period of time.
An organisation can be faced with the unexpected departure of their incumbent meaning a safe pair of hands are need to head the finance function until such time as a permanent replacement can be sourced. We often help with both roles and sometimes the interim candidate can also turn out to be interested and suitable for the long term opportunity.
In other times a company may have a particular need or situation, and recruiting a interim CFO is an ideal solution, typically these include but are not limited to:-
- Funding raising – both debt and equity
- Reporting packs for Private equity and venture capital houses.
- Monthly Management Accounts
- Annual Statutory Accounts.
- Strategic Advice for your board / shareholders.
- Turnaround situations.
- Special projects
- Acquistions / disposals
- Management Buy Outs.
- System migrations.
Raising debt or equity are skills that require experienced and familiarity with the criteria of banks and lenders and knowledge of what PE Houses and Venture Capital firms are looking for. The sorts of skills included Financial modelling to include Cash Flow Available for Debt Service (known as CFADS) need by the banks and other lenders and pitch decks, business plans and financial projections which are required by the PE Houses and VC firms. An Interim CFO can help with this. You might be interested in: Finding the Right Interim CFO for Your Business.
Reporting packs for Private equity and venture capital houses
PE houses and VC firms typically prefer a hands off approach, but at the same time need timely information and a pack of Management Information on a monthly basis to keep them up to date with the progress a business is making, bring in an CFO to prepare a suitable pack after discussions with your funding partners makes good sense and is a useful short term project/assignment. An interim CFO with PE and VC house experience will add a lot of value to this process, see our post on how to achieve better board reporting?.
Monthly Management Accounts / Annual Statutory Accounts
Often if the existing CFO has departed, then there still remains the need to prepare Monthly Management Accounts and annual Statutory accounts all of which have their own usual pattern of due dates. These tasks are the bread and butter of an Interim CFO’s role.
Strategic Advice for your board / shareholders
Finding a strategy for a business which is falling behind its competitors is a highly valuable exercise and one which needs industry and specific skills and knowledge.
Every situation is different but an experienced Finance Directors can help you forecast and model what is needed and implement the necessary changes. Not all struggling businesses need to fail! An experienced turnaround professionals can help restructure your business back into a profitable viable enterprise. Bringing in an Interim CFO with a proven track record of successful turnarounds makes great sense.
These include reviews of aspects of a business, or finding a more tax efficient structure to better manage a companies corporation tax liabilties.
VAT is a complex and specialist area and if an organisation has a legacy or ongoing VAT issue, then it makes sense to bring in a specialist from a VAT background to help resolve or mitigate any areas.
Acquistions and disposals
Buying a new business or disposing of a part of a group is a time consuming project in its own right and can distract the management team from running the day to day business, bringing in a professional to help with this area makes good sense. A strong interim CFO with a lot of M and A experience is a great resource in this situation.
Management Buy Outs.
MBO’s require detailed working with banks and PE houses and having previous successful experience of these situations is really valuable, it can for example be the case that the parent company provided the finance function and a spun off former subsidiary then needs its own function or senior team members recruiting. An MBO is a niche situation and an experienced interim CFO with previous MBO experience will enable the process to go smoothly.
Implementing new systems is easier when an experienced professional is brought in with experience of that system and new implementations of them.
Finding an Interim CFO
These are just some of the situations we see on a weekly basis, if you are looking for a senior finance professional or Interim CFO then make sure to reach out to our team and have an intial discussion.
We are a network of FD’s / CFO’s and recruitment professionals and have an extensive database of candidates who we have previously worked with or met and who we know. Most of our team are ICAEW qualified Accountants.
We pride ourselves on always being friendly and professional, plus our approach reflects that we are team made up of CFO’s and professional recruiters, so you can be sure of talking with someone who knows first hand what your issues and situation is likely to be. Many of our team have been entrepreneurs themselves so can really relate to our owner manager client base.
FD Capital Recruitment
We can find therefore find the perfect Interim CFO for your business very quickly. FD Capital are well known in the senior finance recruitment market, we provide Part-Time FD’s, Interim FD’s, permanent FD’s and Part-Time CFO’s, Interim CFO’s and Permanent CFO’s. We are based in London but also have an office in the West Midlands and our national network of Finance Directors and Chief Financial Officers mean we can service clients across the whole of the UK.
About FD Capital Recruitment CFO Team
Formed in 2018 FD Capital Recruitment was founded with the objective of becoming a leading provider of CFO’s, Part-Time, Interim and full time roles. Our original idea being to bring the skills and experience that CFO’s have gained in larger corporates and plc’s and make them available on a fractional time basis.
If you are looking for an Interim CFO make sure to get in contact with out team today.